Envestnet Portfolio Solutions Inc. Decreases Stock Position in Keurig Dr Pepper, Inc $KDP

Envestnet Portfolio Solutions Inc. reduced its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 71.1% in the 3rd quarter, Holdings Channel reports. The firm owned 12,526 shares of the company’s stock after selling 30,884 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Keurig Dr Pepper were worth $320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Keurig Dr Pepper during the second quarter worth about $568,525,000. Vanguard Group Inc. lifted its stake in Keurig Dr Pepper by 9.8% in the 2nd quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock worth $5,265,055,000 after purchasing an additional 14,244,768 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Keurig Dr Pepper by 43.2% during the 2nd quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after purchasing an additional 9,494,503 shares during the last quarter. State Street Corp grew its position in shares of Keurig Dr Pepper by 11.2% in the second quarter. State Street Corp now owns 63,608,006 shares of the company’s stock valued at $2,117,279,000 after purchasing an additional 6,412,494 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Keurig Dr Pepper by 13.5% in the second quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after purchasing an additional 3,595,579 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $27.44 on Monday. Keurig Dr Pepper, Inc has a fifty-two week low of $25.03 and a fifty-two week high of $36.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.62. The company has a 50 day moving average price of $27.98 and a 200 day moving average price of $28.77. The stock has a market capitalization of $37.28 billion, a P/E ratio of 23.66, a PEG ratio of 1.89 and a beta of 0.34.

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.92 annualized dividend and a yield of 3.4%. Keurig Dr Pepper’s dividend payout ratio is presently 79.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KDP. Jefferies Financial Group downgraded Keurig Dr Pepper from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $32.00 in a research note on Tuesday, December 16th. Barclays raised their price objective on shares of Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Bank of America reduced their target price on shares of Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Finally, UBS Group restated a “buy” rating and set a $35.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, October 28th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.87.

Insider Buying and Selling

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 10,000 shares of Keurig Dr Pepper stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $29.52, for a total value of $295,200.00. Following the completion of the transaction, the vice president directly owned 54,200 shares of the company’s stock, valued at $1,599,984. The trade was a 15.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by company insiders.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single?serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single?serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.